Every day I get up and look through the Forbes list of the richest people in America. If I’m not there, I go to work.Robert Orben, Comedy Writer Two elevators:Which would you choose?•Mutual FundsWhat is a Mutual Fund?How do they work?Fees: internal and externalStyles of Mutual FundsAllocation MixProspectusRating of FundsWhy Mutual Funds?Dollar Cost AveragingNew Developments – ETF’sMutual Fund•A shared investment.•It offers low cost access to a high quality money manager.Advantages•1. Professional money management• 2. Diversification• 3. Flexibility of risk level - YOU choose!

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What are the fees?1. Inside the fundMoney manager’s fee12b-1Advertising and Marketing feeExpenseRatioWhat are the fees?Front End Load “A” sharesBack End Load “B’ sharesLevel Load “C” sharesNO Load??2. Outside the fund - Commissions:Types of load by their use:•A = Front end load. “Best” for the long term. Subtracted from original investment.

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